is buying ’s Flipkart.  continues taking on to control e-commerce  compete against .  finally it official. Because giant corporation is acquiring Flipkart.

’s largest retailer take control soon. Of -based e-commerce its acquisition , Softbank chief executive officer Masayoshi Son said an earnings webcast as per Bloomberg.

Softbank’s 20% stake Flipkart valued at $4 billion.  (Rs27,000 crore). Son said, adding that he had invested $2.5 billion the . Son did not any further of the transaction.

is purchasing Flipkart. Last night was the official announcement. I believe the deal was reached the 2.5 billion that we have invested has turned out to be 4 billion.” Son said.

The acquisition may cost Walmart around $15 billion, according to a previous estimate by Bloomberg.

was also reportedly in the fray to acquire Flipkart went far enough to offer a “breakup fee” of up to $2 billion to prove its seriousness. A breakup penalty has set during the takeover . agreement pay if the target backs out of the deal.

However, Walmart managed to seal the deal and is now in a place to take the fight to in ’s e-commerce , is estimated to grow over 13 times to $200 billion by 2026.

A giant leap

The deal marks a significant milestone Flipkart.

What started in 2007 as an online bookstore operating out of the Bansal duo’s two- apartment in . Flipkart is now the most-valued new-age company in the . around 30,000 employees. It is also one of the highest-funded private companies in the . has a giant Amazon a tough in during the last five years?

An worth billions and backed by marquee  Softbank, Tiger Global, DST Global, and Accel Partners, among many others, Flipkart helped break India’s image as just the ’s back .

the battle begin

Following deal, the Indian e-commerce space now become a battlefield two behemoths: Walmart and Amazon.

The two have been fiercely competing against other in the , including by acquiring smaller players. Flipkart’s acquisition widely considered as an extension of the battle.

“In the , Walmart is the formidable competitor for Amazon. Walmart has been growing its e-commerce operations a and Amazon has increased its footprint physical stores,” Kartik Hosanagar, a professor of and at the University of ’s Wharton School, told Quartz last week.

“Walmart’s looming in Flipkart reflects that. Walmart is fighting Amazon and in China through its partnership . I suspect something similar will happen in India through a partnership Flipkart,” he added.